Rosenblatt Securities Issues Pessimistic Forecast for Bentley Systems (NASDAQ:BSY) Stock Price

Bentley Systems (NASDAQ:BSY) had its price target lowered by investment analysts at Rosenblatt Securities from $62.00 to $53.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ price target indicates a potential upside of 21.09% from the company’s current price.

A number of other research firms have also weighed in on BSY. Robert W. Baird reduced their price objective on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. decreased their price target on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. UBS Group assumed coverage on Bentley Systems in a research report on Monday, March 31st. They issued a “neutral” rating and a $48.00 price objective on the stock. Oppenheimer raised shares of Bentley Systems from a “market perform” rating to an “outperform” rating and set a $49.00 target price for the company in a research note on Thursday, April 10th. Finally, KeyCorp reduced their price target on shares of Bentley Systems from $63.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.80.

Bentley Systems Trading Down 0.2 %

BSY stock opened at $43.77 on Monday. Bentley Systems has a twelve month low of $36.51 and a twelve month high of $57.19. The stock has a market capitalization of $13.27 billion, a price-to-earnings ratio of 39.43, a price-to-earnings-growth ratio of 3.52 and a beta of 1.05. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm’s fifty day simple moving average is $41.99 and its two-hundred day simple moving average is $45.62.

Hedge Funds Weigh In On Bentley Systems

Several institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. boosted its position in Bentley Systems by 138.1% during the 1st quarter. Pacer Advisors Inc. now owns 128,049 shares of the company’s stock valued at $5,037,000 after acquiring an additional 74,271 shares in the last quarter. Machina Capital S.A.S. lifted its stake in shares of Bentley Systems by 23.9% during the 1st quarter. Machina Capital S.A.S. now owns 16,314 shares of the company’s stock worth $642,000 after purchasing an additional 3,148 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Bentley Systems by 3.5% during the first quarter. Venturi Wealth Management LLC now owns 9,438 shares of the company’s stock valued at $371,000 after purchasing an additional 315 shares in the last quarter. Oak Thistle LLC purchased a new position in Bentley Systems in the first quarter valued at about $1,274,000. Finally, Allianz Asset Management GmbH bought a new position in Bentley Systems in the first quarter worth about $425,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

About Bentley Systems

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.